KUALA LUMPUR (Dec 8): Tanco Holdings Bhd (KL:TANCO) has named CCCC Dredging Southeast Asia Sdn Bhd (CDSA) — a unit of China Communications Construction Company (CCCC) — as the proposed contractor for the Sea Port Component of its Smart AI Container Port (Midport) in Port Dickson, Negeri Sembilan.
The engineering, procurement and construction (EPC) package carries a maximum indicative value of RM3.53 billion, subject to final design, costing and commercial terms. Construction of the Sea Port Component is expected to take three and a half years once work begins, the group said in a statement on Monday.
The appointment framework was formalised via a heads of agreement (HOA) signed between Tanco’s wholly-owned unit Tanco Builders Sdn Bhd and CDSA.
Under the HOA, CDSA is required to undertake detailed engineering studies, reclamation and piling methodologies, marine structure designs, externally benchmarked costings and compliance plans aligned with Malaysian and international port standards. These deliverables must be completed within the stipulated timeframe.
CDSA is a wholly-owned subsidiary of CCCC Dredging Group Co Ltd, known for major marine infrastructure projects such as China’s Yangshan Deep-Water Port and Colombo Port City in Sri Lanka.
The latest development follows an earlier memorandum of understanding between Midports Holdings Sdn Bhd and COSCO Shipping Ports Ltd, under which COSCO has indicated an interest in operating Midport upon completion.
Midport is an anchor project under Malaysia Vision Valley 2.0 (MVV2.0) and has been tabled to the National Physical Planning Council (MPFN) as a National Strategic Priority Project, enabling streamlined inter-agency coordination and alignment with national planning requirements.
Designed with AI-driven automation, smart logistics and green port technologies, Midport will feature deep-water marine infrastructure capable of handling next-generation container vessels.
The project is expected to spur downstream economic activity, including logistics hubs, industrial zones, value-added services and high-skilled job creation.
Shares in Tanco rose one sen or 0.85% to close at RM1.18 on Monday, valuing it at RM7.24 billion.